Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Post Street Apartments, a 24-unit apartment property located in Jacksonville, Florida, according to Justin W. West, regional manager of the firm’s Jacksonville office. The asset sold for $1,650,000.
Allan Holbrook and Ryan Tomka, investment specialists in Marcus & Millichap’s Jacksonville office, had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a private investor, was secured and represented by Allan Holbrook and Ryan Tomka.
“This multifamily asset offers the investor the opportunity to acquire a stabilized, well-performing asset in the highly sought-after Riverside submarket of Jacksonville that also has value and potential through completing cosmetic renovations and landscaping in order to increase rent to market rents,” says Holbrook.
The Post Street Apartments consist of 24 one-bedroom units in 3 buildings on three contiguous lots. The buildings were built in 1970 and updated from 2015 to 2020.
Post Street Apartments is located at 2883 Post St in Jacksonville, Florida.